Cincinnati Bearcats. The American logo in Cincinnati's colors. The Cincinnati Bearcats are the athletic teams that represent the University of Cincinnati. The teams are members of the American Athletic Conference (The American), which from 1979 to 2013 was known as the Big East Conference.
You must reduce the basis of property by the depreciation allowed or allowable, whichever is greater. Depreciation allowed is depreciation you actually deducted (from which you received a tax benefit). Depreciation allowable is depreciation you are entitled to deduct.
What Depreciation Does for You. When you depreciate property, you reduce the level of taxable income on your federal taxes. In doing so, you save money on your tax bill and may even move yourself into a lower tax bracket. However, depreciation increases the capital gains on real estate when it is sold.